D2C Brand Nutrabay has secured $5 million in Series A funding round led by RPSG Capital Ventures along with participation from Kotak Alternate Asset Managers Limited.
As per company, they will use the new funds for the omni-channel expansion and ramp up new product innovation.
Founded in 2017 by Sharad Jain, Shreyans Jain, And Divya Prakash Jain, Firm operates as a direct-to-consumer multi brand retail store housing over 100 brands along with its own private label products under the name of Nutrabay. The private label brand products are sold across its D2C website, all major eCommerce websites and offline supplement stores.
Nutrabay saw 4.66X revenue growth in its operating revenue to Rs 89.53 crore in FY23 from Rs 19.24 crore in FY22. Its losses increased to Rs 5.8 lakh in FY23 from a profit of Rs 32.41 lakh in FY22.
Company has 70 products and saw 80% growth in FY24 over FY23. It intends to add over 50 new products to the portfolio .